'Purple Rain' the movie and soundtrack launched Prince into a worldwide musical icon, and now 40 years later it's being reworked into a stage musical.

According to Variety, the new musical will be based on the original screenplay written by Albert Magnoli and William Blinn and will be directed by Tony Award nominee Lileana Blain-Cruz. The musical will also get an accompanying book that will be written by Pulitzer finalist Branden Jacobs-Jenkins.

Not many details are available about the upcoming musical, producers say that "Additional production details and timing will be announced in the coming months." According to the New York Times, most musicals open Off-Broadway or outside of New York and they also say that Prince's estate is supportive of the production.

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L. Londell McMillan, of The NorthStar Group, and Larry Mestel, CEO of Primary Wave Music told Variety, "We are thrilled with our Broadway partners and creative team, who are bringing a theatricality to the film’s original fictional story. We can’t wait for a new generation to discover ‘Purple Rain’ and for lovers of the original film and album to experience its power once again, this time live."

'Purple Rain' was released in 1984 and was filmed in Minnesota, it went on to make over $70 million at the box office, and the soundtrack for the film which includes hits like Let's Go Crazy, I Would Die For You and the title track Purple Rain spent 24 weeks on top of the Billboard Top 200 list and was Prince's first number one album.

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